Alliancebernstein L.P. Sells 225,662 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Alliancebernstein L.P. cut its stake in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 76.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,080 shares of the company's stock after selling 225,662 shares during the period. Alliancebernstein L.P. owned 0.06% of Atlas Energy Solutions worth $1,577,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AESI. Prudential Financial Inc. acquired a new stake in shares of Atlas Energy Solutions in the 4th quarter worth about $1,366,000. Stifel Financial Corp boosted its position in shares of Atlas Energy Solutions by 28.6% during the 3rd quarter. Stifel Financial Corp now owns 126,667 shares of the company's stock valued at $2,761,000 after purchasing an additional 28,158 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Atlas Energy Solutions during the 4th quarter valued at about $650,000. Hodges Capital Management Inc. boosted its position in shares of Atlas Energy Solutions by 44.7% during the 4th quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company's stock valued at $4,302,000 after purchasing an additional 59,940 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Atlas Energy Solutions by 12.6% during the 4th quarter. Vanguard Group Inc. now owns 6,915,325 shares of the company's stock valued at $153,382,000 after purchasing an additional 773,035 shares in the last quarter. 34.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Raymond James cut shares of Atlas Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Monday, January 6th. Bank of America restated a "neutral" rating and set a $22.50 price target on shares of Atlas Energy Solutions in a report on Monday, January 13th. Benchmark decreased their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday, April 2nd. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.44.

Atlas Energy Solutions Stock Performance

Shares of AESI traded up $0.23 during trading hours on Wednesday, reaching $13.89. 147,016 shares of the company traded hands, compared to its average volume of 1,241,637. The stock's fifty day moving average is $17.26 and its 200 day moving average is $20.36. The stock has a market cap of $1.69 billion, a P/E ratio of 17.58 and a beta of 1.20. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. Atlas Energy Solutions Inc. has a 1-year low of $12.41 and a 1-year high of $26.86.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The business had revenue of $271.34 million during the quarter, compared to analyst estimates of $272.94 million. Equities research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.20%. The ex-dividend date was Friday, February 21st. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. Atlas Energy Solutions's dividend payout ratio is 178.57%.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 10,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $22.50, for a total transaction of $225,000.00. Following the transaction, the insider now owns 897,604 shares of the company's stock, valued at $20,196,090. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Gregory M. Shepard acquired 32,155 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $19.04 per share, with a total value of $612,231.20. Following the acquisition, the insider now directly owns 7,651,210 shares of the company's stock, valued at $145,679,038.40. The trade was a 0.42 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 15.98% of the company's stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.